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Friday, March 10, 2017

235,000 Jobs Added in February

Total nonfarm payroll employment rose by 235,000 in February, down slightly from January’s upwardly revised figure of 238,000, according to the Bureau of Labor Statistics. The national unemployment rate moved was little changed at 4.7%. The majority of gains occurred in construction, private educational services, manufacturing, and health care.
Private-service providing industries added a net 132,000 jobs, led by gains in education and health services, which added 62,000 jobs during the month, and by professional and business services, which added 37,000 jobs this month.

Goods-producing employment rose by 95,000 jobs during the month, as gains in construction led the way.

The civilian labor force participation rate was 63.0%, an increase from January. The number of long-term unemployed, those jobless for 27 weeks or more, was virtually unchanged at 1.8 million and accounted for 23.8% of the unemployed. The number of discouraged workers was 522,000, little changed from a year earlier.

Average hourly earnings increased by 6 cents to $26.09, after a 5-cent increase in January. Over the past year, average hourly earnings have risen by 2.8%.

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